Hi,
Has any one invested in commercial real estate here ? What are the pros and cons against residential real estate ? From a broad perspective, how are the prospects? including investment, rent, tax, maintenance etc..,
Alternatively, how is to invest 20% down payment on a second home and rent both main unit and basement around Brampton where a 3-bed detached home with basement cost around 320-330K expecting the rent to cover the mortgage. I think some of the CDs have invested in second home. Cost benefit analysis? though I couldn't expect a return from income perspective but the cost of land and appreciation of the house in 10-15 years when it could possibly be paid off.
Currently my monthly mortgage payment is about 22% of monthly house hold income (and I have 40% equity on my current residence), that is one of the reason I am looking to push little hard. I prefer to invest where I live rather than India / Dubai where I need to rely on some one else.
Thanks in advance.
P.S. Corrected my post in representing my mortgage due.
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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
Quote:
Originally posted by JRF
Hi,
Has any one invested in commercial real estate here ? What are the pros and cons against residential real estate ? From a broad perspective, how are the prospects? including investment, rent, tax, maintenance etc..,
Quote:
Originally posted by JRF
Alternatively, how is to invest 20% down payment on a second home and rent both main unit and basement around Brampton where a 3-bed detached home with basement cost around 320-330K expecting the rent to cover the mortgage. I think some of the CDs have invested in second home. Cost benefit analysis? though I couldn't expect a return from income perspective but the cost of land and appreciation of the house in 10-15 years when it could possibly be paid off.
Quote:
Originally posted by JRF
Currently I have a mortgage which is about 22% of total house hold income, that is one of the reason I am looking to push little hard. I prefer to invest where I live rather than India / Dubai where I need to rely on some one else.
Thanks in advance.
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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada
Pramod,
Thanks for jumping in the thread and offering your points. The thread you pointed is most appropriate to resume this discussion, I will post it there.
With reviewing links BV posted in the other thread, I will re-evaluate my capacity and risk tolerance.
Regards,
JRF.
-----------------------------------------------------------------
The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
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